Financial stress is taking its toll on a lot more people these days given the downward trend in the global economy. One thing that’s for sure is that you are either going to learn how to swim with the economic tide, or drown. That thought alone is very scary to most people, because irrespective of what they may be going through, they are too scared to make any changes that stretch them beyond their comfort zone.
In this article, we are going to explore three ways in which you can beat financial stress and come out victorious.
1. Know your numbers
Whip out that calculator and start making sense of your bills. If you are in debt, how much do you owe? What do you own? How much are you spending on a monthly basis? Is it in line with what you are earning? I know this assessment sounds like a boring exercise to many people but it pays off in the end. There is an old saying that goes ‘what gets measured gets improved’. If you do not know what is causing the symptoms of your financial stress, then it will be very difficult to find the right cure.
2. Set your priorities straight
You get an increase in pay and suddenly find yourself with some extra cash. You are wondering whether you should pay off your mortgage or secure another loan to pay off your credit card debt. Do not get into more debt by buying stuff you don’t need. When you have your priorities straight, you can choose financial freedom over trying to keep up with the Joneses. It’s all up to you. Just follow your own plan.
3. Stop thinking about what you do not want
Most of us are programmed to think negatively to the extent that we are so quick to list what it is that we do not want. Examine your thoughts and you will hear yourself. You do not want to rent, you do not want to pay all those bills, you do not want that job and you certainly do not want to be broke. Now look at these statements very carefully.
They depict a negative way of looking at life and can actually increase your financial stress. When you start thinking about what you want instead, you will find yourself looking for it and for sure you will find what you are looking for.
Because of the personal nature of financial matters, people who suffer from financial stress are often in denial until it gets out of hand. However, it does not always have to be like this.
If you are leaving your financial future to chance, then you may very well be on your way to struggling financially.